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A loan which is secured against fixed property - as opposed to a lien which is secured against movable property. The interest rate on mortgage bonds is generally better than can be obtained on other forms of finance because of the additional security in the form of property. For this reason it makes sense to consolidate your debt into your bond. If you want to buy a motor vehicle then pay for it by drawing down on your bond rather than taking vehicle finance. You will also benefit because without vehicle finance you will not be obliged to take comprehensive insurance.